Acoma, Incorporated, has determined a standard direct materials cost per unit of $8.00 (2 feet x $4.00 per foot). Last month, Acoma purchased and used 4,590 feet of direct materials, for which it paid $17,901. The company produced and sold 2,160 units during the month. Required: Calculate the direct materials price, quantity, and spending variances. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your intermediate calculations to 2 decimal places. Direct Materials Price Variance Direct Materials Quantity Variance Direct Materials Spending Variance $ (459) F F F

Acoma, Incorporated, has determined a standard direct materials cost per unit of $8.00 (2 feet x $4.00 per foot). Last month, Acoma purchased and used 4,590 feet of direct materials, for which it paid $17,901. The company produced and sold 2,160 units during the month. Required: Calculate the direct materials price, quantity, and spending variances. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your intermediate calculations to 2 decimal places. Direct Materials Price Variance Direct Materials Quantity Variance Direct Materials Spending Variance $ (459) F F F

Name: Acoma, Incorporated, has determined a standard direct materials cost
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Description: Acoma, Incorporated, has determined a standard direct materials cost per unit of $8.00 (2 feet × $4.00 per foot). Last month, Acomapurchased and used 4,590 feet of direct materials, for which it paid $17,901. The company produced and sold 2,160 unit

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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